Perkins Coie Trust Co Has $150,000 Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Perkins Coie Trust Co lifted its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the business services provider’s stock after purchasing an additional 400 shares during the period. Perkins Coie Trust Co’s holdings in Barrett Business Services were worth $150,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC increased its holdings in Barrett Business Services by 259.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after acquiring an additional 273,516 shares during the last quarter. Ironwood Investment Management LLC grew its holdings in shares of Barrett Business Services by 155.0% during the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock worth $2,879,000 after purchasing an additional 53,405 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Barrett Business Services during the second quarter worth about $758,000. Dimensional Fund Advisors LP grew its holdings in shares of Barrett Business Services by 281.9% during the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after purchasing an additional 640,508 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Barrett Business Services by 155.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock worth $1,944,000 after purchasing an additional 36,120 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total value of $1,201,794.40. Following the transaction, the chief executive officer now directly owns 242,543 shares of the company’s stock, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 35,133 shares of company stock worth $1,231,357. 3.70% of the stock is owned by corporate insiders.

Barrett Business Services Price Performance

BBSI stock traded up $0.17 during midday trading on Wednesday, hitting $37.03. The stock had a trading volume of 3,449 shares, compared to its average volume of 138,909. The firm has a market cap of $968.96 million, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.23 and a beta of 1.38. The business has a 50-day moving average of $35.97 and a two-hundred day moving average of $33.51. Barrett Business Services, Inc. has a 52-week low of $21.59 and a 52-week high of $37.81.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The firm had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Research analysts predict that Barrett Business Services, Inc. will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, August 16th. Barrett Business Services’s dividend payout ratio (DPR) is presently 17.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Mkm boosted their price objective on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barrington Research boosted their target price on Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

Barrett Business Services Profile

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.